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Mark Abzug

Beware of possible financial fraud in your divorce

On Behalf of | Jul 14, 2022 | Divorce

It is no secret that a divorce can get messy, particularly when it comes to dividing up the couple’s marital assets. In Florida and other states that follow equitable distribution laws, courts consider several factors when determining how to divide marital property fairly and equitably between divorcing spouses.

However, to ensure that all property is accounted for, couples are required to disclose all assets to the court. If you notice any of the following during your marriage, your spouse may be committing financial fraud:

  • Excessive number of cash transactions.
  • Moving money around more than necessary.
  • Hidden money, bank accounts, or credit cards.
  • Using joint accounts to pay for things but keeping some money separate.
  • Valuable assets disappearing.

If you have decided to get a divorce, it is important that you are fully informed about your finances. You will need to:

  • Gather financial documentation relating to bank accounts, investments, retirement accounts, and credit cards.
  • Talk to your attorney about gaining access to records relating to accounts that are not in your name or accounts of which you are not aware.
  • Analyze these financial statements with the help of an attorney, forensic accountant or other professional.

Divorcing spouses in Florida are not always transparent when it comes to their finances. To make sure you receive your fair share of the marital assets in a high asset divorce, it is in your best interest to make sure that the court has all of the information it needs to make a decision as to who gets what. If you notice any red flags in your spouse’s behavior, taking control of your finances with the help of an attorney may be in your best interest.